#我的七夕交易分享 BTC V-shaped reversal after breaking down, ETH strengthens against the trend

On August 14, the cryptocurrency market witnessed a thrilling tug-of-war between bulls and bears around the $63,000 level. Bitcoin briefly fell below the key psychological threshold of $63,000 during the early morning hours. According to Gate market data, BTC/USDT touched a low of $62,975.4, but the bulls did not give up their resistance—the price found support near $62,800 and quickly staged a V-shaped reversal, rebounding more than 700 points and climbing back above $63,400. As of press time, BTC was fluctuating between $63,400 and $63,500, down approximately 0.2%-0.5% over 24 hours, with a market capitalization of approximately $1.26 trillion. Bitcoin overall showed a volatile pattern of rising before retreating, then bottoming out and recovering. After coming under pressure from a high around $64,014 in the early morning, it fell to the $62,846 low area before stabilizing and recovering.
Ethereum outperformed Bitcoin. ETH rebounded strongly from a low of $1,863.71, approaching the $1,888 level. According to TokenPost data, ETH was trading at $1,885.63, up 0.22% against the trend from the previous day. Ethereum's price action showed a high degree of correlation with Bitcoin, declining in tandem from a high of $1,903, touching the $1,857 area before following the rebound. The ETH/BTC ratio edged higher, with some funds flowing from Bitcoin into Ethereum. Other major cryptocurrencies posted mixed performance. Solana rose 0.50%, Dogecoin rose 0.46%, and XRP rose 0.30%. Bitcoin's market dominance fell to 58.50%, down 0.08 percentage points from the previous day, indicating that some funds were rotating into altcoins. The overall cryptocurrency market capitalization stood at $2.18 trillion.
As for liquidations, $238 million was liquidated across the network over the past 24 hours, including $131 million in long liquidations and $108 million in short liquidations. Bitcoin long liquidations totaled $41.7528 million, while short liquidations totaled $7.3744 million; Ethereum long liquidations totaled $24.9982 million, while short liquidations totaled $8.6526 million. A total of 80,126 people were liquidated globally, with the largest single liquidation occurring in Byb's BTCUSDT contract, worth $12.6k.
Technical outlook: Key support under pressure
Bitcoin: $63,000 shifts from support to resistance. As a psychological support level that held through multiple previous trading sessions, the loss of $63,000 carries significant signaling importance. The market is now focused on the $60,000 area as the next key support level; if this level breaks, it could very likely trigger a broader sell-off. From a rebound perspective, the $65,000 area remains a key resistance level that the bulls must reclaim. Only a successful break above this level can effectively boost market confidence and reverse the downturn. Looking at the moving-average system, Bitcoin's moving averages are beginning to flatten, indicating that upward momentum is weakening significantly. The 50-day moving average is currently near $63,500, while price action is testing the 200-day moving average around $62,000. If prices remain below this long-term moving average, it could signal the formation of a long-term bearish trend.
Trading advice: Direction unclear; favor observing over trading
Short-term traders
The market is currently in a narrow trading range of $63,000-$64,000, with direction not yet clear.
BTC strategy: Watch the $63,000 support and $65,000 resistance. If the price stabilizes near $63,000 and shows a volume-backed rebound, traders can participate with light positions; if it decisively breaks below $62,800, remain alert to the risk of a further decline toward the $60,389 liquidation zone. Above, $66,499 is the trigger point for short liquidations.
ETH strategy: Watch the $1,873 support and $1,900 resistance. If ETH holds $1,873 and breaks above $1,900, the continuation of the bullish move may strengthen; a break below $1,873 would weaken the long setup.
For medium- and long-term investors, macro headwinds remain—geopolitical conflicts, expectations of interest-rate hikes, and regulatory uncertainty. These three pressures are unlikely to ease in the short term. VanEck said the pullback remains consistent with the halving-cycle pattern, while some analysts believe the bear market is already 85% complete. From a long-term perspective, the $62,000-$63,000 region is gradually entering a valuation range worth watching. However, Rekt Capital warned that support from the 200-week moving average is weakening and that short-term downside risks cannot be ignored. It is advisable to wait until the market direction becomes clear before reassessing positioning opportunities.
Rekt Capital issued a key warning: Bitcoin's buying momentum in August has weakened significantly, undermining the 200-week simple moving average, a key support level. Looking back at historical comparisons, strong buying pressure existed around the 200-week moving average in July, helping prices achieve a limited recovery. But this month lacks clear buying support, and market sentiment has shifted from rebound to wait-and-see, with support effectiveness declining significantly.
Ethereum: $1,900 becomes the focus of short-term trading
After rebounding from a low of $1,863.71, ETH is now moving back toward the $1,900 level. The $1,900-$1,901 range remains a key resistance zone. If ETH holds the $1,873 support zone and breaks above $1,900, the continuation of the bullish move may strengthen; a break below $1,873 would weaken the long setup. $ETH ‌$ETH ‌